Which of the following conditions most likely would pose the greatest risk in accepting a new audit
Question:
Which of the following conditions most likely would pose the greatest risk in accepting a new audit engagement?
a. Staff will need to be rescheduled to cover this new client.
b. There will be a client- imposed scope limitation.
c. The firm will have to hire a specialist in one audit area.
d. The client’s financial reporting system has been in place for 10 years.
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a Incorrect This is not a major risk In fact it is quite common for audit staff members to have to ...View the full answer
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Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
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